$475,000
SOLD JUN 8, 2016

1116 Varela St Key West, FL 33040

Old Town Neighborhood
2 Beds
1 Bath
779 Sq Ft
3,693 Sq Ft Lot

Recently Sold

$610 Per Sq Ft

17% Below List Price

266 Days on Market

Highlights

  • Shotgun Architecture
  • No HOA
  • Storage
  • Wood Flooring
  • Patio
  • 2-minute walk to Higgs Beach Dog Park

About This Home

As of April 2023

Huge L shaped lot with Shotgun style 2b/1ba home in need of renovation. House is prime to be renovated and lot large enough to allow for addition to main house, plus room for separate cottage and big pool. Also, off-street parking for 2-3 cars. Mature trees and landscaping provide privacy in great Old Town neighborhood. Walking or biking distance to entire island, Old Town, beaches, and White St. shopping and restaurants.

Last Agent to Sell the Property

Roger Gillis

Coldwell Banker Schmitt Real Estate Co. (KW) Listed on: 09/15/2015

Co-Listed By

Curtis Skomp

Coldwell Banker Schmitt R.E. License #586474

Last Buyer's Agent

Jennifer Newman

Doug Mayberry Real Estate (KW)

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $4,212

Year Built

  • Built in 1943

Lot Details

  • 3,693 Sq Ft Lot
  • Fenced
  • Property is zoned HMDR - Historic Medium Density Residential

Parking

  • Off-Street Parking

Home Design

  • Shotgun Architecture
  • Key West Architecture
  • Frame Construction
  • Metal Roof

Interior Spaces

  • 779 Sq Ft Home
  • Single Hung Windows
  • Storage
  • Range

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Full Bathroom

Outdoor Features

  • Patio
  • Shed

Additional Features

  • Ground Level
  • Cooling System Mounted To A Wall/Window

Community Details

  • No Home Owners Association
  • Gwynn Sub Subdivision

Home Details

Home Type

Single Family

Est. Annual Taxes

$4,212

Year Built

Built in 1943

Lot Details

0

Listing Details

  • Property Type: Residential
  • Style: Single Family
  • As Is Right To Inspect: Yes
  • First Right of Refusal: No
  • Association Approval Required: No
  • Mandatory HOA: No
  • Financial Status Potential Short Sale: No
  • Key Island: Key West
  • K W Neighborhood: Old Town-S of Truman
  • Limited Representation: No
  • Mile Marker: 1.00
  • M L S Identifier: 20060123165453488875000000
  • Property Group I D: 19990816212109142258000000
  • Sale Terms: Cash
  • Side: Median
  • State Province: FL
  • Taxes: 4212.00
  • Title: Negotiable
  • Vehicle Storage: Off Street Parking
  • Year Built: 1943
  • Alternate Key Number: 1033707
  • Building Style: Conch, Shotgun, Ground Level
  • Cooling Heating: Wall/Window Unit(s)
  • Lot Sq Ft: 3693.00
  • Porch Balcony: Patio
  • Tax Exemptions: None
  • Estimated Living Sq Ft: 779.00
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Interior Amenities: Pantry, Storage
  • Total Bathrooms: 1.00
  • Full Bathrooms: 1
  • Appliances: Range
  • Floor: Tile, Wood
  • Windows/Doors: Single Hung Windows
  • Total Bedrooms: 2

Exterior Features

  • Dockage: None
  • Waterfront: No
  • Construction: Frame
  • Exterior Features: Fencing, Shed, Storage
  • Roof: Metal Roof
  • Waterview: No Waterview
  • Pool: No

Utilities

  • Utilities: FKAA, Municipal Sewer

Lot Info

  • Deed Restrictions: Unknown
  • Land Size: Less Than 1/4 Acre
  • Acres: 0.08

Rental Info

  • Furnished: Unfurnished

Tax Info

  • Tax Year: 2014

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 15, 2023
Closed on
Apr 12, 2023
Sold by
Harman K Shawn K and Harman Donna L
Bought by
Wade Vanhouse and Wade Michelle Trombetta
Seller's Agent
Jennifer Newman
Truman & Co. (KW)
List Price
$2,195,000
Sold Price
$2,060,000
Premium/Discount to List
-$135,000
-6.15%
Views
58
Current Estimated Value
$1,918,931

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$141,069
Avg. Annual Appreciation
-3.05%
Original Mortgage
$1,545,000
Outstanding Balance
$1,509,960
Interest Rate
6.6%
Mortgage Type
New Conventional
Estimated Equity
$408,971

Purchase Details

Listed on
Sep 15, 2015
Closed on
Jun 8, 2016
Sold by
Renwick Tobin
Bought by
Harman K Shawn and Harman Donna L
Seller's Agent
Roger Gillis
Coldwell Banker Schmitt Real Estate Co. (KW)
Buyer's Agent
Jennifer Newman
Doug Mayberry Real Estate (KW)
List Price
$575,000
Sold Price
$475,000
Premium/Discount to List
-$100,000
-17.39%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
23.88%

Purchase Details

Listed on
Sep 15, 2015
Closed on
Jun 7, 2016
Sold by
Lowe Maynard V and Lowe Marcie
Bought by
Harman K Shawn and Harman Donna L
Seller's Agent
Roger Gillis
Coldwell Banker Schmitt Real Estate Co. (KW)
Buyer's Agent
Jennifer Newman
Doug Mayberry Real Estate (KW)
List Price
$575,000
Sold Price
$475,000
Premium/Discount to List
-$100,000
-17.39%

Purchase Details

Closed on
Jan 6, 1997
Sold by
Lowe Maynard V and Lowe Agnes P
Bought by
Lowe Maynard V and Lowe Maynard V
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $2,060,000 None Listed On Document
Quit Claim Deed -- None Available
Warranty Deed $475,000 None Available
Warranty Deed $100 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,545,000 New Conventional
Previous Owner $510,400 No Value Available
Previous Owner $529,000 No Value Available
Previous Owner $529,000 New Conventional
Previous Owner $100,000 Credit Line Revolving
Previous Owner $275,000 Unknown
Previous Owner $175,000 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/14/2023 04/14/23 Sold $2,060,000 -1.9% $1,433 / Sq Ft
02/21/2023 02/21/23 Price Changed $2,099,000 -4.4% $1,460 / Sq Ft
02/15/2023 02/15/23 For Sale $2,195,000 +362.1% $1,526 / Sq Ft
06/08/2016 06/08/16 Sold $475,000 -17.4% $610 / Sq Ft
06/07/2016 06/07/16 Pending -- -- --
09/15/2015 09/15/15 For Sale $575,000 -- $738 / Sq Ft
Source: Florida Keys Board of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $9,380 $1,593,474 $810,824 $782,650
2023 $9,380 $1,367,194 $705,283 $661,911
2022 $7,608 $945,930 $606,443 $339,487
2021 $6,987 $749,019 $452,319 $296,700
2020 $7,375 $796,154 $495,876 $300,278
2019 $7,428 $795,203 $491,345 $303,858
2018 $7,480 $784,622 $479,961 $304,661
2017 $5,051 $505,951 $0 $0
2016 $5,047 $541,593 $0 $0
2015 $4,786 $503,163 $0 $0
2014 $4,212 $365,021 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Jennifer Newman

    Seller's Agent in 2023

    Jennifer Newman

    Truman & Co. (KW)

    (305) 902-7090

    48 in this area

    107 Total Sales

    Section Image
  • Bobby Ciulla

    Seller Co-Listing Agent in 2023

    Bobby Ciulla

    Truman & Co. (KW)

    (561) 306-2397

    1 in this area

    5 Total Sales

    Section Image

  • R

    Seller's Agent in 2016

    Roger Gillis

    Coldwell Banker Schmitt Real Estate Co. (KW)

  • C

    Seller Co-Listing Agent in 2016

    Curtis Skomp

    Coldwell Banker Schmitt R.E.

    Section Image
See All Agents

Map

Source: Florida Keys Board of REALTORS®

MLS Number: 122210

Florida Keys Board of REALTORS®

APN: 00032940-000000

Florida Monroe County Key West 33040 Old Town

1116 Varela St, Key West, FL

This home is located at 1116 Varela St, Key West, FL 33040 and is currently priced at $475,000, approximately $609 per square foot. This property was built in 1943. 1116 Varela St is a home located in Monroe County with nearby schools including Horace O'Bryant School, Key West High School, and May Sands Montessori School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Florida Keys Board of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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